The Economic
Stimulus
There Was
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Economic Stimulus?
No One
Told Me
Iraq clings to a rickety calm between war and peace
As the last troops sent in a U.S. military buildup leave, security has improved, but Iraqis tread carefully. They know no victor has been declared in the battles that will decide the nation’s future.
By Ned Parker, Los Angeles Times Staff Writer
July 28, 2008
BAGHDAD — The departure this month of the last of the 28,500 extra troops sent in a U.S. military buildup leaves Iraq in a rickety calm, an in-between space that is not quite war and not quite peace where ethnic and sectarian tensions bubble beneath the surface.
Politicians and U.S. officials hail the remarkable turnaround from open civil war that left 3,700 Iraqis dead during the worst month in the fall of 2006, compared with June’s toll of 490, according to Pentagon estimates.
Signs abound that normal life is starting to return. Revelers can idle away the hours at several neighborhood joints in Baghdad where the tables are buried in beers and a man can bring a girlfriend dolled up in a nice dress.
Despite the gains, the political horizon is clouded: Shiite Muslim parties are locked in dangerous rivalries across central and southern Iraq. Kurds and Arabs in the north compete for land with no resolution in sight. U.S.-backed Sunni Arab fighters who turned on the group Al Qaeda in Iraq could return to the insurgency if the government does not deliver jobs and a chance to join the political process.
Worried Banks Sharply Reduce Business Loans
By PETER S. GOODMAN
Published: July 28, 2008
Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring.
Two vital forms of credit used by companies – commercial and industrial loans from banks, and short-term “commercial paper” not backed by collateral – collectively dropped almost 3 percent over the last year, to $3.27 trillion from $3.36 trillion, according to Federal Reserve data. That is the largest annual decline since the credit tightening that began with the last recession, in 2001.
USA
For Obama, Hurdles in Expanding Black Vote
By Alec MacGillis and Jennifer Agiesta
Washington Post Staff Writers
Monday, July 28, 2008; Page A01
MACON, Ga. — Amanda Bass, a volunteer for Sen. Barack Obama’s presidential campaign, had already tried once to get Wilmer Gray to register to vote. But when she glimpsed him in a black T-shirt and White Sox cap again on a recent weekday at the main bus stop here, she was determined to give it another try.
This time, Gray, 21, agreed — but his bus pulled up before he could fill out the form. Bass jumped onboard and persuaded the driver to wait.
“He was someone I’d worked hard to get,” said Bass, 19. “I couldn’t let him go, not after seeing how far he’d come.”